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Sanmina Corporation

SANM Technology Electronic Components

Sanmina Corporation’s revenue for fiscal 2025 (year ended September 2025) was $8.1 billion, up 7.40% from fiscal 2024. In the quarter to June 2026, revenue grew 69.7%, EPS grew 69.5%, free cash flow fell 85.6% and total debt rose 613.0%, each against the same quarter a year earlier. Operating cash flow growth for three consecutive years; insiders bought in the last twelve months.

175.67 13.07 −6.92%
Market cap
$10.1B
P/E
30.8×
Fwd P/E
44.7×
Dividend yield
—
F-score
7/9
Altman Z
2.54
Beneish M
−2.87
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 0.10
Total sells 43.05
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — 1 — — — — — — — — —
Sell — 1 — 6 — 2 7 — — 1 1 —
Insider Ownership 5.74%

Capital & Financial Ratios $m

Market Cap 10,120.00
Revenue 12,763.37
Net Income 326.85
Free Cash Flow 599.03
Net Debt 327.37
Current Ratio 1.78 (at or above 1.5: strong)
Debt/Equity 0.79
P/E ratio 30.82
Fwd P/E 44.70 (above 35: high)
P/S ratio 0.74
P/B ratio 3.73
Past 5Y EPS Growth 17.75% (at or above 15%: strong)
This Y EPS Growth 100.41% (at or above 15%: strong)
Next Y EPS Growth 16.19% (at or above 15%: strong)
Next Y revenue growth 74.08% (at or above 10%: strong)
Next 5Y EPS Growth 39.04% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.8×, against a ten-year median of 0.3×; over the ten years it ranged from 0.2× in 2020 to 1.3× in 2026.
P/E against its own 10 years 91.39%
10-year low 10-year high
P/S against its own 10 years 89.68%
10-year low 10-year high
P/B against its own 10 years 95.21%
10-year low 10-year high
EV/Sales against its own 10 years 90.97%
10-year low 10-year high
EV/FCF against its own 10 years 58.02%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2025 Powerpack
2024 Powerpack
2023 Powerpack
2022 Powerpack
2021 Powerpack
2020 Powerpack
2017 Powerpack
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 668 626 926 1,845
Receivables 1,231 1,338 1,400 1,987
Inventory 1,477 1,444 1,988 3,152
Other 446 384 426 522
3,880 3,870 4,865 7,828
2023 2024 2025 Q'26
Payables 1,559 1,442 1,579 2,453
ST’ Debt 26 18 18 215
Other — — — —
2,033 1,941 2,822 4,397

Compound Annual Growth %

10y 5y 3y
Sales 2.46% 3.18% 0.87%
Cash Flow 13.50% 15.61% 23.33%
Earnings (4.19%) 13.05% 0.76%
Book Value 5.26% 9.27% 11.75%

Revenue $m

Dec Mar Jun Sep Year
’26 3,190 4,013 3,464 — —
’25 2,006 1,984 2,042 2,096 8,128
’24 1,875 1,835 1,841 2,018 7,568
’23 2,356 2,320 2,207 2,052 8,935
’22 1,756 1,915 2,023 2,225 7,920
’21 1,755 1,700 1,658 1,626 6,738
’20 1,840 1,591 1,655 1,865 6,950
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Dec Mar Jun Sep Year
’26 179 399 124 — —
’25 64 157 201 199 621
’24 126 72 90 52 340
’23 37 65 57 77 235
’22 68 79 102 82 331
’21 62 81 104 92 338
’20 21 136 64 80 301
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Dec Mar Jun Sep Year
’26 92 342 24 — —
’25 47 126 164 141 478
’24 92 43 67 29 231
’23 0 2 4 39 45
’22 51 52 64 34 201
’21 51 67 87 62 266
’20 (7) 119 54 69 236
Fiscal quarters ending in the months shown.

EPS $

Dec Mar Jun Sep Year
’26 0.89 1.70 2.12 — —
’25 1.16 1.16 1.26 0.88 4.46
’24 0.98 0.93 0.91 1.09 3.91
’23 1.48 1.33 1.28 1.04 5.18
’22 0.89 0.83 1.29 1.08 4.06
’21 0.72 0.70 1.74 0.56 4.01
’20 0.53 0.07 0.64 0.75 1.97
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to September

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 16.31 29.95 22.30 22.52 18.34 30.59 35.36 43.41 48.83 63.67

Analyst estimates 2026–2028

Powerpack
High 37.20 42.95 35.55 34.71 34.96 43.63 69.28 65.58 86.05 178.39
People
People Employees 45,397 47,000 47,000 43,000 37,000 35,000 34,000 34,000 37,000 39,000
Revenue/emp, $m 0.14 0.15 0.15 0.19 0.19 0.19 0.23 0.26 0.20 0.21
Income, $m
Income, $m Revenue 6,481 6,869 7,110 8,234 6,950 6,738 7,920 8,935 7,568 8,128
Gross margin, % 7.94 7.57 6.52 7.19 7.44 7.81 7.86 8.32 8.46 8.81
EBT 205 213 98 246 192 282 302 413 318 339
EBT margin, % 3.16 3.11 1.37 2.98 2.77 4.18 3.82 4.62 4.20 4.18
Net income 188 139 (96) 142 133 250 240 328 238 266
Depreciation 112 119 149 117 123 110 109 118 122 119
Per share, $
Per share, $ Revenue 86.31 92.22 101.82 119.11 100.67 103.16 129.17 154.46 136.14 150.67
Earnings 2.50 1.86 (1.30) 2.05 2.02 4.12 4.18 5.36 4.00 4.56
Cash flow 5.20 3.37 2.24 5.54 4.35 5.18 5.40 4.07 6.12 11.50
Capex (1.54) (1.45) (1.63) (1.84) (0.93) (1.11) (2.12) (3.28) (1.96) (2.64)
Free cash flow 3.65 1.92 0.61 3.70 3.42 4.07 3.27 0.78 4.16 8.86
Book value 21.44 22.12 21.09 23.76 23.61 28.36 29.68 40.08 42.48 47.07
Shares, m 75 74 70 69 69 65 61 58 56 54
Valuation, ×
Valuation, × P/E 11.30 20.75 0.00 15.66 13.20 10.09 10.95 10.22 17.11 25.24
P/S 0.33 0.42 0.27 0.27 0.27 0.37 0.36 0.35 0.50 0.76
P/B 1.33 1.74 1.28 1.35 1.15 1.36 1.55 1.35 1.61 2.45
EV/Sales 0.34 0.43 0.29 0.26 0.25 0.33 0.33 0.31 0.46 0.69
EV/FCF 8.02 20.61 49.21 8.41 7.35 8.26 13.17 62.05 15.14 11.68
Cash, $m
Cash, $m Operating cash flow 390 251 156 383 301 338 331 235 340 621
Capex (116) (108) (114) (127) (64) (72) (130) (190) (109) (142)
Free cash flow 274 143 42 256 236 266 201 45 231 478
Balance, $m
Balance, $m Working capital 974 1,000 613 1,238 1,297 1,486 1,419 1,846 1,930 2,043
Total debt 462 480 608 385 348 330 347 338 317 300
Net debt 64 73 188 (69) (133) (320) (183) (329) (309) (626)
Shareholders’ equity 1,610 1,648 1,473 1,643 1,630 1,853 1,820 2,319 2,362 2,539
Returns, %
Returns, % ROA 5.28 3.72 (2.41) 3.54 3.47 6.26 5.32 6.38 4.59 4.60
ROIC 8.39 8.22 4.49 11.37 9.15 10.43 13.35 14.32 10.21 11.58
ROE 12.00 8.52 (6.12) 9.08 8.14 14.33 13.09 14.98 9.51 10.04
Negative figures in brackets.

All 10 years →

Fiscal years to Sep 2025 · latest quarter Jun 2026

Charts ten years each

Sanmina Corporation vs peers in Electronic Components (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
JBL Jabil, Inc. $30.1B 28.2× 31.7× +28.65% (above 0%: growing) +86.61% (above 0%: growing) +7.13% (above 0%: growing) 9.43% 5.67% Compare
FN Fabrinet $13.8B 27.5× 38.1× +44.64% (above 0%: growing) +59.43% (above 0%: growing) −885.01% (below 0%: shrinking) 12.01% 10.20% Compare
TTMI TTM Technologies, Inc. $10.7B 41.2× 53.7× +37.42% (above 0%: growing) +95.12% (above 0%: growing) +22.47% (above 0%: growing) 21.10% 10.86% Compare
VICR Vicor Corporation $10.1B 60.0× 96.1× +1.63% (above 0%: growing) +17.39% (above 0%: growing) −61.09% (below 0%: shrinking) 57.98% 24.33% Compare
SANM Sanmina Corporation $10.1B 30.8× 44.7× +69.67% (above 0%: growing) +69.53% (above 0%: growing) −85.58% (below 0%: shrinking) 10.49% 6.39%
LFUS Littelfuse, Inc. $10.0B — (loss-making) 32.2× +20.44% (above 0%: growing) +52.16% (above 0%: growing) +86.12% (above 0%: growing) 41.43% 16.21% Compare
RAL Ralliant Corporation $7.6B — (loss-making) 31.1× +12.82% (above 0%: growing) +21.43% (above 0%: growing) +34.28% (above 0%: growing) 51.59% 14.48% Compare
PLXS Plexus Corp. $6.4B 33.3× 39.4× +28.13% (above 0%: growing) −3.59% (below 0%: shrinking) −105.73% (below 0%: shrinking) 10.07% 4.70% Compare
OLED Universal Display Corporation $3.6B 18.8× 20.1× −11.43% (below 0%: shrinking) −24.82% (below 0%: shrinking) −45.68% (below 0%: shrinking) 75.82% 35.26% Compare
Median of peers $10.0B 30.8× 35.2× +24.29% +36.80% −19.27% 31.27% 12.67%

All 49 Electronic Components stocks →

Sanmina Corporation (SANM) key facts

  • Strength: Sanmina Corporation’s revenue for fiscal 2025 (year ended September 2025) was $8.1 billion, up 7.40% from fiscal 2024.
  • Sanmina Corporation (SANM) is an Electronic Components company in the Technology sector, listed on Nasdaq.
  • As of October 16, 2026, SANM traded at $175.67, a market capitalization of $10.1 billion.
  • Return on equity was 10.0% and debt-to-equity 0.79.
  • Its Piotroski F-score is 7 out of 9 and its Altman Z-score is 2.54 (grey zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

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stockrow.com/SANM · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com